Trump Blinks, Markets Send

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Trump Blinks, Markets Send

Absolutely wild day in the market. Trump gave everyone the signal to buy in the morning, and then paused non China tariffs for 90 days → which sent the S&P up ~10% (the most in a day since 2008), QQQ up 12% and BTC up 8% to $81.5k. Single name equities bounced much more than alts, with OTHERS only up ~9%, and Fartcoin the star of the show up 40% (Bonk Guy is now up $3m). Still, there is plenty of tension in terms of sentiment as the US economy still has to grapple with China tariffs and surging interest rates - so it’s sort of unclear if it’s really time to lock in or not.

ETH and SOL bounced slightly to $1.6k / $115 respectively, BTC still reigns supreme, with BTC dom firm at 63.5% while OTHERS dom kicks around the 2023 lows. China and Russia are settling trades in BTC and Eric Trump/ WLFI sold ETH at a loss right before DJT pumped markets. Today’s move felt mostly like short covering and equities will now have to fight through a nasty earnings season, but tariff deal announcements from DJT will also likely drive bullish sentiment. Other alts with notable strength on the day included FLR, PENDLE, ONDO and SONIC, all up 20%+.

Chart of the Day with Vertex

SOL is still the only place where anything in crypto happens, so as long as markets continue to improve, it could be worth a punt? Try app.vertexprotocol.com and trade SOL with up to 10x leverage.

In the onchain world, the tokens we always talk about have been a pretty safe space all things considered. Fartcoin is up 68% over the last week, Housecoin is up 175% and RFC is up 421%. Housecoin led strength on the day, but a lot of coins were seen catching a bid.

Fartcoin and RFC are the mindshare leaders, though we have seen some newer coins doing well lately. New launch CryptoAI ran straight up to $6mm at time of writing, while REMUS bounced off the $3mm lows to $4mm (down from $13mm highs).

The new launch trenches continue to be a shadow of what they once were, but strength in the existing onchain winners is certainly bullish for this to reverse.

Interesting accounts getting smart follows:

• Subs.fun

• QuoteChain

• Hdgr.fun

• Melee Markets

• Dark

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• Fartcoin and titcoin still smart money favorites, though we have seen high PnL wallets start to test the waters on newer coins like Crypto AI and REMUS

MEME OF THE DAY